The Suez Canal Economic Zone (SCZONE) has signed a contract with Turkey's Eroğlu Global Holding A.Ş. for the construction of a cardboard and packaging factory in the Qantara West Industrial Zone. The project involves investments totalling USD 175 million and is one of the largest industrial settlements in the zone.
The agreement was signed by Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone. The plan is to build a production facility covering an area of 70,000 square metres. The plant will produce cardboard packaging solutions, including packaging units for beverage cartons as well as cartons and cardboard sheets. According to SCZONE, the project will create around 2,000 direct jobs. Around half of the production is earmarked for export, while the remaining volume will serve the Egyptian market.
Expansion of industrial value creation in Qantara West
According to Waleid Gamal El-Dien, the project strengthens the industrial supply chain, increases local value creation and contributes to the further development of the manufacturing industry in Egypt. The new project brings the total number of projects in the Qantara West Industrial Zone to 52, covering a total area of 3,537,100 square metres, with a cumulative investment of around USD 1.531 billion and creating a total of 72,665 direct jobs.
Fourth location of Eroğlu in the zone
For Eroğlu Global Holding A.Ş., the new cardboard and packaging factory is already the fourth project in the Qantara West Industrial Zone. According to SCZONE, this makes the company currently the largest industrial investor in this industrial zone.
Source: The Suez Canal Economic Zone (SCZONE)
